(a) Authority. This part is issued by the Board of Governors of the Federal Reserve System (the Board) under sections 162, 165, 167, and 168 of Title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) (Pub. L. 111-203, 124 Stat. 1376, 1423-1432, 12 U.S.C. § 5362, 5365, 5367, and 5368); section 9 of the Federal Reserve Act (12 U.S.C. §§ 321–338a); section 5(b) of the Bank Holding Company Act (12 U.S.C. § 1844(b)); sections 8 and 39 of the Federal Deposit Insurance Act (12 U.S.C. § 1818(b) and 1831p-1); the International Banking Act (12 U.S.C. § 3101et seq.); the Foreign Bank Supervision Enhancement Act (12 U.S.C. § 3101 note); and 12 U.S.C. § 3904, 3906-3909, and 4808.

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(b) Purpose. This part implements certain provisions of section 165 of the Dodd-Frank Act (12 U.S.C. § 5365), which require the Board to establish enhanced prudential standards for certain bank holding companies, foreign banking organizations, nonbank financial companies supervised by the Board, and certain other companies.

[84 FR 59096, Nov. 1, 2019]